/KASE, July 17, 00, Galina Chudinova/ - OJSC "Corporation Kazakhmys" (Jezkazgan, official list of securities, category "B") in accordance with the listing requirements provided Kazakhstan stock exchange (KASE) with its 1999 financial statements: balance sheet, income and cash flow statements.

Following are 1999 results of the issuer (in th. KZT):

As of As of Indicator Jan.1,99 Jan.1,00 Change, %

-------------------------------   -----------   ------------    ----------
Authorized capital (announced)         98,231         98,231           0.0
Authorized capital (paid)              98,231         98,231           0.0
Shareholders' equity               32,186,039     32,673,397          +1.5
Total assets                       74,895,409     90,448,664         +20.8
Net working capital               -16,617,078    -18,154,031          -9.2
Accounts receivable                11,636,887     22,086,239         +89.8
Accounts payable                   25,366,601     30,544,304         +20.4
Sales (services offered)           49,562,842     74,479,467         +50.3
Cost of goods sold (services 
offered)                           36,702,170     39,616,491          +7.9
Net income (loss)                 (4,047,649)      4,554,772        +212.5
-------------------------------   -----------   ------------    ----------
Calculated based on the data of the issuer:
-------------------------------   -----------   ------------    ----------
Return on sales (ROS), %                25.95          46.81         +80.4
Return on equity (ROE), %                   -          13.94             -
Return on assets (ROA), %                   -           5.04             -
Earnings per share (EPS), KZT               -       1,030.40             -
Price earnings ratio (Р/Е)                  -           1.26             -
Book value of a share, KZT           6,553.16       6,652.38          +1.5
-------------------------------   -----------   ------------    ----------

Earnings per share in 1999 was given without dividends to preferred shares, which are not set yet.

Based on 1999 balance sheet, presented by OJSC "Corporation Kazakhmys" compared to 1998 growth took place in: - shareholders' equity - by KZT487.36 mln, or 1.5% (resulting undistributed income - by KZT548.72 mln, with the decrease in additional unpaid capital by KZT61.36 mln);
- assets - by KZT15.55 bln, or 20.8%;
- liabilities - by KZT15.07 bln, or 35.3%;
- sales - by KZT24.92 bln, or 50.3%;
- cost of goods sold - by KZT2.91 bln, or 7.9%;
- expenses of the period - by KZT2.38 bln, or 16.4%.

Net income of the company in 1999 grew by KZT8.60 bln, or 212.5% relative to KZT4.05 bln loss in 1998, at KZT4.55 bln.

Following table contains the dynamics of some indicators of OJSC "Corporation Kazakhmys" in 1999 on a quarterly, non-accruing basis (in mln KZT):

Indicator I-99 II-99 Change,% III-99 Change,% IV 99 Change,%

----------  --------  --------  --------  --------  --------  --------  --------
Sales       12,596.6  16,207.0     +28.7  21,479.2   +32.5    24,196.7    +12.7
Net income    -175.1  -3,206.8  -1,731.9   4,365.2  +236.1     3,571.4    -18.2